Trump cannot shoot the Federal Reserve Governor Lisa Cook, court rules

On Monday, the US Court of Appeal refused to allow Donald Trump to shoot the ruler of the Federal Reserve Council, Lisa Cook – the first time that the president has followed such a measure since the establishment of the central bank in 1913 – in the last step in a legal battle that threatens the independence of the federal reserve for a long time.

The US Court of Appeal decision in the Colombia County Department means that Cook can now stay at the Federal Reserve before meeting politics on Tuesday and Wednesday, when it is expected to reduce interest rates in the United States to support the cold labor market.

The court rejected the request of the Ministry of Justice to put the order of the judge to temporarily prevent the Republican President from removing Cook, which is appointed to former Democratic President Joe Biden.

The Trump administration is expected to appeal the ruling before the US Supreme Court.

On September 9, American boycott judge Jia Cope spent that Trump’s claims that Cook had committed a mortgage fraud before assuming office, which Cook denies, is likely not to be sufficient reasons for removal under the law that established the Federal Reserve.

When establishing a federal reserve, Congress guarantees provisions to protect the central bank from political intervention. Under the law that established the Federal Reserve, its governors may be removed by the president only for the reason, although the law does not specify the term and does not create removal procedures. No president has ever removed the ruler of the Federal Reserve, and the law was not tested in the court.

Cook, the first black woman to work as a federal reserve ruler, prosecute Trump and chat in late August. Cook said that the allegations did not give Trump the legal authority to remove it and was an excuse to launch it on its position on monetary policy.

The Trump administration argued that the president has a wide discretionary authority to determine when it is necessary to remove the governor of the Federal Reserve, and that the courts lack the authority to review these decisions.

This issue has repercussions on the Federal Reserve’s ability to determine interest rates without looking at the desires of politicians, which are widely seen as decisive in any central bank’s ability to work independently to carry out tasks such as maintaining inflation.

Trump called this year that the Federal Reserve will reduce the prices of the Federal Reserve strongly, as the Federal Reserve Chairman Jerome Powell on charges of monetary policy. The Federal Reserve, which focuses on controlling inflation, has not done, although this week is expected to reduce.

This year, the Supreme Court allowed Trump to move forward in removing various officials working in federal agencies established by Congress as independent of direct presidential control.

But in an issue in a case that involves the dismissal of Trump for democratic guns in federal work councils, the Supreme Court indicated that it is considered the Federal Reserve distinguished from other executive agencies. He said that the Federal Reserve “is a unique and semi -special entity” with a unique historical tradition.

On Thursday, the Trump administration asked the Trump administration to move quickly so that Trump could remove cooking before the Federal Reserve Policy meeting on Tuesday and Wednesday. Administration attorneys said that allowing the president to shoot Cook will lead to “strengthening, and not decreasing, the safety of the Federal Reserve.”

Cook lawyers said in a file in response that the removal of Cook before the meeting will affect our markets and foreigners, and that the public interest in keeping it in office outperformed Trump’s efforts to control the Federal Reserve.